7 Day Swap Issues

HannahRebecca

Hi,

I have moved banks from Natwest to Barclays and I was told that by using the 7 day switch they would move all my direct debits and contact my employer with my new bank details. I was told they would also put a direct to my new bank for anyone who tried to make payments to my Natwest account for 13 months so I didn't have to worry.

Because I was told the above I didn't think to inform my employer of my new bank details as Barclays said this would be done for me. I was due to be paid today and I haven't been. I spoke to Payroll to be told nobody had contacted them wiht my new details!! I now need to wait for Natwest to return the payment to my work for them to pay me. They said this could take up to 10 working days, does anyone have experience of how long it actually takes to have a payment return that was paid into a completely closed account?

Also, how do I hadle this with Barclays when they have broken their promise?

Appreciate any advise I can get!

meer53

Your salary will have been sent as usual to your old account. This will be redirected today to your new account. From next month, your salary will automatically go to your new account. If you call your old bank they should be able to see your salary.

Your employer will not be contacted by your new bank. The way it works is that an electronic message is sent from your old bank to your employers bank when the switch completes.

A redirection marker is placed on your old account so that all payments made to that account after the switch has completed are redirected to your new account. Barclays haven't broken their promise, you just aren't aware of how the switch process works.

grumbler

meer53 wrote: »

Your employer will not be contacted by your new bank. The way it works is that an electronic message is sent from your old bank to your employers bank when the switch completes.

AFAIK, depending on how the salary gets paid, the employer can be contacted in some way by the old bank.
E.g.

The new bank will take care of moving all your payments going out (e.g. Direct Debit and standing orders) and those coming in (e.g. your salary)

http://www.which.co.uk/money/bank-accounts/guides/switching-your-bank-account/bank-account-switching-tips/

Under the current account switch guarantee banks will:

• ...
• ...
• ...
• tell your employer to pay your salary into your new account

http://www.uswitch.com/current-accounts/how-to-switch-current-account/

meer53

The employer will be notified by THEIR bank that the employee has changed bank details.

As i said previously, once a salary is received to the old bank, the electronic message is sent to the employers bank for future payments.

PrinceYumil

Maybe give it a day or 2 and if it's still not their contact Barclays. It's the bank your moving too's switcher team who are supposed to sort this and they are liable for any trouble you have.

HannahRebecca

I spoke to Natwest earlier today to see if they could see if my salary had been attempted to be paid in however because the switch completed on the 15th they couldn't see any payments going in or out.

I was told it can take up to 10 days for a payment to bounce back - is this the same time scale if there's a redirect?

grumbler

It has to be forwarded to the new bank, not bonced back. And forwarding certainly doesn't require 10 days. If it will, complain to Barclays and demand compensation.

HannahRebecca

I will keep a look out for the payment to be bounced to me in the next few days - does a Saturday count as a day to expect it or just weekdays?

I am slightly nervous about this as I had a letter during the switch to say all my direct debits had been moved when only 2 of 5 had been moved over.

HannahRebecca

This has now been 2 working days since I was supposed to be paid and I haven't been. I need to have the money by Friday to pay for my rent.

How long should I leave this before chasing up the bank?

meer53

HannahRebecca wrote: »

This has now been 2 working days since I was supposed to be paid and I haven't been. I need to have the money by Friday to pay for my rent.

How long should I leave this before chasing up the bank?

You should be calling them daily if it hasn't been transferred by now. Your new bank should be sorting this out for you, if they can't locate your salary, ask them to increase your overdraft limit to cover it until it arrives. They should do this free of charge.

HannahRebecca

I have been contacted by my work today to say the money was returned to them so they can process a same day payment. This must been that Barclays have not stuck to their promise of contacting my employer to inform of my new details in any way!

They have not set themselves up to be a good bank to be with!